In the world traders, the question is less about who will win tomorrow's U.S. presidential election, but rather if the winner can secure enough votes to declare a clear victory.

"The biggest political risk is the potential that the US result won‘t be known due to the combination of a tight election and re-count/mail-in issues in swing states," writes Citi's FX team.

Art Cashin, UBS Financial Services Director of Floor Operations, more or less reiterates that this is the sentiment of the traders he's talking to.

From this morning's Cashin's Comments:

Tomorrow's Election – There is a broad hope among traders that the election is not close. With the divided state of the nation on lots of issues, a close result might be the worse outcome.

Several pundits project a possible win for Romney in the popular vote with the President taking the Electoral College. That possibility was enhanced by Sandy's damage. With the worst impact in states that traditionally vote Democratic, a lower turnout could skew one way. A split outcome could bring victory but some embarrassment to the President, since he is on record several times over the years stating that the presidency should go to the candidate that wins the popular vote. Nonetheless, the law's the law.